If you are new to investing, one of the first questions you will likely be asking yourself is, “Can I buy crypto on Fidelity?” The good news is that there are several ways to invest in crypto at Fidelity and a lot of people have been making money with it. In this article, we will take a look at some of the options available to you.
Bitcoin
Fidelity, the nation’s largest provider of retirement plans, has announced the launch of a new crypto service for its customers. The firm’s crypto arm will offer a custodial and trading platform that will enable users to buy and sell cryptocurrencies.
Fidelity has been investing in digital assets for years. However, the firm’s consumer-facing crypto product isn’t as robust as it should be. Instead of offering access to a full suite of crypto services, the company is relying on its brand to give its clients a safe and secure way to invest.
Fidelity offers several digital assets to its clients. This includes exchange-traded funds (ETFs) that track specific companies. It also provides a desktop trading platform and a mobile app.
In order to trade on the platform, customers will need to open an account. For a minimum of $1, they can choose from a variety of options.
Ether
Fidelity, one of the largest financial institutions in the world, has revealed plans to offer its clients the ability to buy Ether. It’s not the first time that the investment firm has made a move in the cryptocurrency space.
According to Fidelity Investments, about 90% of its biggest clients are interested in cryptocurrencies. They’re planning to expand their crypto offerings to retail investors, though they haven’t announced a specific launch date yet.
The financial firm is also launching a crypto fund that will track the performance of the ether. In addition, Fidelity will offer a retail trading platform that will allow individual investors to trade ether for a minimum investment of $1. Interested investors can put their name on a waitlist to be notified when the service is ready.
Commission-free trades
The largest brokerage in the world, Fidelity Investments, is now offering commission-free crypto trades for retail investors. Its crypto service, called Fidelity Crypto, will allow retail clients to buy and sell bitcoin and ethereum without a fee.
In order to open an account, clients will need to have at least $1 in the account. Once the account is opened, the individual will have access to the crypto trading service. They will also have the option to choose which cryptocurrencies they wish to trade.
In addition to commission-free trading, customers will also have access to educational materials and research. Fidelity claims that the company has a user base of more than 40 million individual clients, including institutional investors.
While the exact launch date has not been announced, users can sign up for the early-access waitlist. Depending on when they sign up, they will be notified if they are cleared.
Funding a Fidelity Crypto account
If you’re a Fidelity employee, you can invest a portion of your retirement savings in crypto, according to the company’s new service. However, you’ll need to be approved by your employer.
Fidelity says it’s the largest 401(k) provider in the U.S., and it manages the 401(k)s of about 23,000 employers. The firm is expected to launch its digital asset account by summer 2022. It’s separate from the main 401(k) bucket. Those who are interested can sign up for a wait list.
The Fidelity digital asset account is designed to help clients buy and sell crypto products on commission-free. The accounts will be held on the company’s own custody platform, and they will be valued daily. There will be robust educational materials to assist customers.